Flowserve Corporation (FLS) Stake Decreased by Fmr LLC
Fmr LLC cut its holdings in shares of Flowserve Corporation (NYSE:FLS) by 22.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,144,153 shares of the industrial products company’s stock after selling 3,211,658 shares during the period. Fmr LLC owned about 8.53% of Flowserve Corporation worth $517,423,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in FLS. Huntington National Bank grew its stake in shares of Flowserve Corporation by 28.0% during the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 480 shares in the last quarter. Creative Planning grew its stake in shares of Flowserve Corporation by 6.2% during the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 141 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Flowserve Corporation during the first quarter valued at about $116,000. Federated Investors Inc. PA grew its stake in shares of Flowserve Corporation by 1.8% during the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 46 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Flowserve Corporation during the first quarter valued at about $151,000.
Flowserve Corporation (NYSE FLS) opened at 42.63 on Monday. The company has a market cap of $5.57 billion, a PE ratio of 53.29 and a beta of 1.45. Flowserve Corporation has a 12 month low of $37.51 and a 12 month high of $52.10. The stock’s 50 day moving average is $39.73 and its 200 day moving average is $45.48.
Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The business had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $933.91 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Flowserve Corporation’s revenue was down 14.6% compared to the same quarter last year. Equities analysts predict that Flowserve Corporation will post $1.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, September 21st. Flowserve Corporation’s payout ratio is currently 98.70%.
Several analysts have recently weighed in on FLS shares. Stifel Nicolaus restated a “buy” rating and set a $45.00 target price on shares of Flowserve Corporation in a research note on Sunday, September 3rd. BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Wolfe Research started coverage on Flowserve Corporation in a research note on Tuesday, July 11th. They set an “underperform” rating and a $38.00 target price for the company. Finally, Royal Bank Of Canada restated a “sell” rating and set a $46.00 target price on shares of Flowserve Corporation in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.45.
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About Flowserve Corporation
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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